"We spoke with Google representatives ... and they seemed very keen on the idea," Russia's Deputy IT and Communications Minister Dmitry Milovantsev was quoted as saying by the media.
The St. Petersburg Bonch-Bruyevich State University of Telecommunications would be a partner in setting up the IT park.
Google confirmed its interest in Russia's IT market. "We are very interested in Russia and are working to learn more about this important market. We will continue exploring business opportunities in Russia," a Google spokeswoman was quoted as saying by the English daily, The Moscow Times.
Ever since his visit to Infosys headquarters in Bangalore during his visit to India last December, President Vladimir Putin has been pressing the government to create 'Russian Bangalores' to tap the vast intellectual potential and put the country's economy on track of knowledge-based industrial development.
The technology park in St. Petersburg is set to begin operations as early as 2008 and will require an estimated $1 billion in investment, said Alexander Gogol, dean at the Bonch-Bruyevich St. Petersburg State University of Telecommunications.
The money will come from federal and regional authorities, the World Bank and the resident companies of the park.